Industry Analysis & Industry Trends
The Hearing Aid Clinics industry has contracted slightly during the past five years as declines in insurance coverage and consumer income combined with rising hearing aid prices. During the next five years, however, the industry is expected to improve, largely due to the implementation of the Patient Protection and Affordable Care Act. In addition, the number of individuals suffering from hearing deficiencies is expected to remain high as a result of the diabetes epidemic, the rising use of mobile music devices and an aging US population.... purchase to read more
Industry Report - Industry Key Buyers Chapter
Although market share concentration in the Hearing Aid Clinics industry has increased over the past five years, it still is at a low level. Most firms have very little market share and employ fewer than five people. IBISWorld estimates that in 2014, the four largest firms will account for less than 15.0% of industry revenue.
Major retailers such as Costco have increased market share by charging far less for hearing aids than independent audiologists. Costco is able to do this because its high volume purchases reduce its costs per unit; also, the company can operate with lower profit margins because of its high sales volume. Market share concentration has also risen for the overall industry due to an increase in corporately owned locations and branded distribution locations... purchase to read more